Neiman Marcus has cut around a thousand jobs since beginning of the year

American Group Neiman Marcus, owned by private equity firms Warburg Pincus LLC and TPG Inc., announced on Tuesday 7 April the elimination of 130 jobs in its eponymous chain of luxury stores.

The Dallas-based distributor has cut around a thousand jobs since the start of the year, reducing the number of its employees from 13,000 to 12,000 people.

In February, it published sales figures down 23% from the same period for the second quarter of the fiscal year.

The group runs forty Neiman Marcus stores and two Bergdorf Goodman boutiques in New York.